A Pepe Coin whale has sparked discussions in the crypto market today with his trading strategy. Notably, the trader has turned a mere $3,000 into a massive $51.25 million with his timely bets on the meme coin. Besides, the large investor, also called a whale, has dumped 500 billion of the frog-themed meme coin, which has further fueled discussions in the market.
Pepe Coin Whale Records Massive Gain
A Pepe Coin whale, known by the blockchain address “0xc25,” made waves in April 2023 by purchasing a massive 4.914 trillion PEPE token for only $3,000. Over time, the trader sold 3.66 trillion of this token, pocketing $35.52 million. Despite these sales, the whale still holds 1.25 trillion PEPE, valued at approximately $15.73 million.
According to data from Spot On Chain, this remarkable trade has yielded an estimated profit of $51.25 million, marking an astronomical 17,026x return. Notably, these massive gains have gained notable traction from market enthusiasts, reinforcing the unpredictable nature of meme coins.
Source: Spot On Chain, X
500 Billion Dump Sparks Concern
After six months of dormancy, the Pepe Coin whale made a notable move by depositing 500 billion tokens, worth $5.73 million, into the leading crypto exchange Coinbase. This transaction immediately triggered market speculation. Large deposits to exchanges often indicate potential sell-offs, which could lead to price fluctuations.
However, it remains unclear if the whale intends to liquidate the entire amount or is merely shifting assets. The transaction has led to increased PEPE trading volume, suggesting heightened investor interest in the meme coin’s trajectory.
What’s Next For PEPE Coin Price?
As the whale still holds over 1.2 trillion of the meme coin, it raised speculations over a potential dip in Pepe price ahead if the investor continues his selling spree. Notably, PEPE price noted a slump of 4% today and traded at $0.00001231, while its trading volume rose 11% to $1.02 billion.
In addition, another Pepe Coin whale also dumped 1.1 trillion tokens recently, which has weighed on the investors’ sentiment. However, despite that, a recent PEPE price analysis showed that the frog-themed meme coin flashes a buy signal after its 55% price crash recently.
Having said that, it appears that the top meme coin is poised to record a significant recovery ahead. Amid this, the investors are keeping close track of the Pepe Coin whales’ movement for cues on the potential future price movements of the token.
The post Pepe Coin Whale Turns $3K To $51M With Latest 500B PEPE Dump, Here’s All appeared first on CoinGape.
